Advertising 2,800 Beginning of year inventory 37,800 Depreciation 1,300 End of year inventory 38,200 General and administrative expenses 5,100 Gross sales 145,600 Interest expense 5,000 Lease payments 2,600 Management salaries 39,500 Purchases 41,600 Research and development 7,800 Returns and allowances 8,100 Taxes 16,200. What was gross profit from income statement for the year ending December 31, 2017? 2. What was operating profit (i. e., EBIT) from Delicious Dishes income statement for the year ending December 31, 2017?

Question

Business

Maribel Melton

9 May, 08:07

Advertising 2,800 Beginning of year inventory 37,800 Depreciation 1,300 End of year inventory 38,200 General and administrative expenses 5,100 Gross sales 145,600 Interest expense 5,000 Lease payments 2,600 Management salaries 39,500 Purchases 41,600 Research and development 7,800 Returns and allowances 8,100 Taxes 16,200. What was gross profit from income statement for the year ending December 31, 2017? 2. What was operating profit (i. e., EBIT) from Delicious Dishes income statement for the year ending December 31, 2017?

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Rudy Edwards · Answer 1

Gross Profit: $136.200

Operating Profit: $ 78.400

Explanation:

Gross Margin income statement

Sales $ 145.600 Return & Allowance - $ 8.100 Depreciation - $ 1.300

Gross Profit $ 136.200

GAV Expenses - $ 5.100 Lease Expenses - $ 2.600 Management Expenses - $ 39.500 R&D Expenses - $ 7.800 Advertising Expenses - $ 2.800

EBIT $ 78.400

Interest Expenses - $ 5.000

EBT $ 73.400

Taxes Expenses - $ 16.200

Net Income $ 57.200